The recent hikes in interest rates by the Federal Reserve have made it more expensive to lease vehicles in the United States. However, according to Statista, leasing accounted for 17% of all new vehicles in 2022. There are still people who prefer to lease automobiles rather than purchase them.
With nearly one-fifth of the new vehicles leased in 2022, there is a rising concern among drivers about the insurance implications if they are ever in a car accident. This is because a third party (the leasing company) owns the vehicle instead of the driver.
Those individuals who suffer injuries in a lease car accident due to another's negligence must contact the legal team at Schuerger Shunnarah Trial Attorneys. They understand the complexities associated with leased car accidents in Houston, Texas, and can help guide injured victims on their legal options. They can also advise in situations such as, minor car accident my fault.
What Should the Victim Do After Being Involved in a Leased Car Accident?
After getting into an accident involving a leased car, the victim must take the same steps they would if it were any other motor vehicle collision. These include the following:
Call 911 for Help
After a car accident occurs, it is crucial for the driver to ensure their safety and the safety of others around them. If the motor vehicle crash results in injuries, they must call 911 to report the incident and wait for help to arrive.
Wait for the Police Officer at the Accident Scene
Under Texas law, drivers must report all car accidents if they result in serious injuries, fatalities, or property damage exceeding $1,000.
By calling 911, the party involved in the incident is requesting an officer to come down to the accident scene and file a police report. This is an essential piece of documentation when pursuing an insurance claim.
Exchange Information with the Other Parties
If the injured driver is able to move around, they should take the time to exchange information with the other parties involved. This includes insurance details, vehicle registration numbers, and contact information.
Gather as Much Evidence as Possible
While at the accident scene, the injured party must gather as much evidence as they can to protect their rights and personal injury claim. They should take pictures and videos of the vehicles involved, the injuries sustained, the accident scene, any road signs or markings, and other relevant details.
Seek Medical Treatment
It's essential for the injured party to seek medical attention immediately. Failure to do so can lead to injury complications and also jeopardize their personal injury claim. They must follow the doctor's advice and the treatment suggested by the healthcare professionals.
Reporting a Leased Car Accident in Houston, Texas
After seeking medical assistance, it is crucial for the injured party to report the accident involving their leased car to the following companies:
Their own insurance company: The injured victim must report the car accident to their insurance company by following the reporting procedure mentioned in their policy.
The leasing company: Most leasing companies require the lessee to report the accident according to the process underlined in the lease agreement. Since the leasing company owns the vehicle, they may have specific repair instructions that need to be followed if the crash involves property damage.
Texas Department of Transportation: The victim may also need to report the accident to the Texas Department of Transportation within 10 days of the incident.
Lease Car Accident, Not My Fault: Pursuing a Car Accident Claim Involving a Leased Vehicle in Houston, Texas
If the victim suffers injuries while driving a leased vehicle due to another's negligence, they may be able to pursue a car accident claim against the at-fault driver's insurance company.
Under the personal injury law, the injured party may be able to recover the following damages:
Economic damages: The injured party can recover medical bills and other out-of-pocket expenses, including prescription medication, surgery costs, and rehabilitation and therapy fees, among others.
Non-economic damages: A car accident can leave the victim mentally and emotionally disturbed, for which they can pursue non-economic damages. These may include pain and suffering, emotional distress, mental anxiety, reduced quality of life, and more.
Property damages: If the leased vehicle suffers damages in the accident, the third-party insurance claim can help cover the repair or replacement costs. However, it is essential for the victim to coordinate with the leasing company, as they may have specific requirements for repairing or replacing the vehicle or its parts.
Injured Parties May File a Personal Injury Claim Against Their Insurance Company
If an injured party suffers injuries in an accident involving a leased vehicle, they may want to consider filing a claim against their insurance company. This is because most leasing companies only lease automobiles to individuals who have collision coverage. Schuerger Shunnarah Trial Attorneys can also explain who is at fault in a multi car rear end accident.
An injured victim with collision coverage can recover their losses quickly by pursuing a personal injury claim against their insurance company. In some cases, it might cover all the damages and pursue a subrogation claim against the at-fault party's insurer.
However, the leasing company may require the lessee to have gap insurance. If the car gets totaled or stolen, this type of insurance coverage can help cover the difference between the vehicle costs and the remaining balance (lease payments).
How Can a Car Accident Attorney Help Injured Victims with a Leased Car?
There are many ways Schuerger Shunnarah Trial Attorneys can help injured victims following their accident, some of which include the following:
Investigate the motor vehicle accident involving the leased car and gather the necessary evidence required to build a trial-ready case.
Study the vehicle lease contract and the car insurance policies and guide the injured party accordingly.
Pursue a personal injury claim against the at-fault party's auto insurance company.
Negotiate with the claims adjuster and make sure that the insurance company pays maximum compensation.
Go to trial if there is a disagreement between the parties over a fair settlement.
Injured Victims in Leased Car Accidents Should Contact an Experienced Car Accident Attorney in Houston
Navigating an insurance claim after an accident in a leased vehicle can be stressful and complex. Injured victims should contact (833) 692-5038 to schedule a free consultation with the car accident attorneys at Schuerger Shunnarah Trial Attorneys in Houston, Texas.
The legal team at Schuerger Shunnarah Trial Attorneys can help assess the car lease and insurance policies, guide victims on how to deal with the leasing company, and pursue a personal injury claim against the other driver's insurance company to recover the damages.